...PRODUCTIVITY HELPING US LEAD TOMORROW. Since our inception in 1817 we’ve built a legacy of leadership. In a young colony, through a great depression, through boom years, through a global financial crisis and in the development of a portfolio of businesses, Westpac has a history of looking ahead with a long-term view. This year we have made significant progress in implementing a strategy that is delivering better returns today, and building a sustainable business for the future. It is the strength we’ve built into our business today, with sector leading capital, a robust funding and liquidity position, and superior asset quality, that is helping us lead tomorrow. As a result we can respond to opportunities as they emerge and invest to transform the organisation. We’ve been proudly supporting Australia, New Zealand and our region for almost two centuries and we’re singularly focused on continuing our support as we approach our third century. We believe in these countries, in their people and in their businesses and their potential to prosper and grow. Our strong position today means we are more capable than ever of helping to realise this potential. And we are more dedicated than ever to play a role in leading tomorrow. …IS Westpac Banking Corporation ABN 33 007 457 141 2013 PERFORMANCE HIGHLIGHTS CASH EARNINGS ($m)1,2 REPORTED RESULTS ($m)3 COMMON EQUITY TIER 1 CAPITAL RATIO $7,097m, up 8% 2013 2012 2011 2010 2009 4,675 7,097 6,598 6,301 5,879 $6,816m, up 14% 2013...
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...a smaller level of detail in regards to services offered. Also, Westpac directly emphasises the importance of customers to their business by indicating that their main objective is to cater for customer needs, which suggests that customers are a highly valued asset within the company. ANZ’s mission communicates a similar message. This notion of the importance of customers is not communicated as directly in NAB’s mission, which alternatively provides a level of insight into the competitiveness and ambition that drives NAB to achieve an improved market positioning. Furthermore, Westpac’s vision communicates a similar level of customer importance that is reflected in its mission statement. This is again unlike NAB’s vision, which fails to communicate the importance of customers and alternatively focuses on the business’s quantitative objectives. ANZ’s vision reflects elements of Westpac’s and NAB’s visions by emphasising the importance of customers as well as its international business interests. Furthermore, NAB and ANZ’s company values emphasise the importance of ethical behaviour in all areas of the business; however, Westpac does not touch on this notion. Also, ANZ and Westpac both highlight the underlying concept of a collaborative approach to work, i.e. working as one team. In addition to this, all three company values communicate the importance of treating customers with respect. However, only NAB and Westpac offer an insight into the competitiveness and ambition that drives...
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...Proposal for Operations Transformation at Westpac March 26, 2009 To: Ms. Gail Kelly, CEO and Managing Director, Westpac Bank Mr. Peter Clare, Group Executive, Products and Operations From: __________, Principal, Asia-Pacific & Australia, Verint Systems Date: March 26, 2009 Re: Operations Transformation at Westpac We are very pleased with the opportunity to deepen our partnership with Westpac and believe our proposal provides the most comprehensive approach for Westpac to execute its strategy successfully. This initiative is critical for Westpac to differentiate its service delivery model in the midst of an industry shift towards growing customer share. Westpac lags behind its key competitors and the risk of further customer attrition will result in a systemic deterioration of profitability. Westpac and Verint have formed a shared perspective on the importance of operational improvements to the bank’s overall transformation. Our diagnostic work earlier this year suggests that a successful transformation program can free up at least 2,000 personnel for frontline sales roles over the next 12-24 months. Assuming current levels of Westpac sales productivity, migration of 2,000 personnel to the frontline could add $156 million in annual revenues. As important, a successful redesign of existing operating processes...
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...contributing factors which influence the contents of a firm‟s sustainability reporting through combined social and environmental accounting and management perspectives. Design/methodology/approach: This paper analyzes the disclosed sustainability indicators of a major Australian financial institution, Westpac, through the application of the research method content analysis. The theoretical framework will be shaped by the consideration of legitimacy theory and the Balanced Scorecard approach. Findings: The results indicate that the four perspectives of a traditional Balanced Scorecard are related to the main sources of influential inputs to Westpac‟s sustainability reporting – existing frameworks, stakeholder engagement mechanism, employee involvement and traditional shareholders‟ financial information needs. It also reinforced the argument that the focus of organisational legitimacy is a key resource of organisation survival. Originality/value: This research contributes to the literature on social and environmental disclosures including the research of Do, Tilt and Tilling (2007) and Baxter, Chua and Strong (2010) which was based on the sustainability management and reporting of Westpac. Keywords Balanced Scorecard, Legitimacy, Sustainability, Page 1 Introduction This paper considers sustainability management and reporting in the Australian private sector context. It aims to evaluate an Australian publicly listed firm‟s continuous voluntary...
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...credit cards, prepaid credit cards and epump under the Woolworths Everyday Money brand. In 2012, WOW recorded an increase of 4.8% in revenues to AUD52,129.8 million and gross profit increased by 5.7% to AUD14,476.3 million. Net profit fell by 15.1% to AUD1816.7 million this was due to losses associated with the divestment of its wholesale and retail consumer electronics businesses. WOW is rated A3 by Moody’s and A- by Standard & Poor’s. Key Executive Staff Ralph Waters Chairman Ralph Waters was appointed a Director of Woolworths Limited in January 2011 and appointed Chairman on 22 November 2012 after the retirement of James Alexander Strong. Ralph is also a Director of Fonterra Co-operative Group Limited (since 2006) and Westpac New Zealand Limited (since 2006) and is Chairman of Fletcher Building Limited. Ralph has also been Chairman and Director of Fisher and Paykel Appliances Holdings...
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...2011 NZOG Annual Report 2009 2 Contents 2 3 5 6 7 8 9 10 12 13 48 49 53 57 Chairman’s Review CEO’s Review Reserves and Production Directors Declaration Consolidated Income Statement Consolidated Statement of Comprehensive Income Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity Consolidated Statement of Cashflow Notes to the Financial Statements Audit Report Corporate Governance Statement Shareholder Information Corporate Directory NZOG Annual Report 2011 Chairman’s Review During the year ended 30 June 2011 the company faced a very challenging time in dealing with the adverse flow-on impact of its investments in Pike River Coal Ltd (PRCL), whose mine near Greymouth suffered from explosions and a tragic loss of lives in November 2010. However, despite the resultant losses on NZOG’s investments in PRCL, which have been provided for in the financial statements, NZOG still ended the year in a very sound financial position and having an expanded outlook overall for its oil and gas operations. sands. There is potential for a sizeable discovery. NZOG holds a 90% interest in PEP 51311 but is amenable to farming down its equity to around 50%. As an adjunct to these and other New Zealand activities, which still form the core of NZOG’s operations, the company has now acquired interests overseas, through the award of a prospecting permit in offshore Tunisia and a joint study area in onshore Indonesia (Sumatra). In Tunisia the Diodore...
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...Better energy MERIDIAN ENERGY LIMITED ANNUAL REPORT 2014 for the year ended 30 June 2014 02 ny C omp a e r v iew ov 04 from Re p o r t ir an d o u r C h a ut ive E xe c C hie f The nu 50 mbers 6.7 % 13.01 Total dividend in FY2014 EBITDAF 1 ahead of prospectus CENTS PER SHARE $ 24 . 3% higher than forecast in the prospectus, including a 2 .00cps special dividend. Invested in communities and environmental projects 3.5M 2 New wind farms generating electricity Delivering on our commitment to shareholders In our first full-year results after partially listing on the New Zealand and Australian stock exchanges in October 2013, we have achieved solid results for shareholders. EBITDAF 1 , a key indicator of profitability, has exceeded the prospectus forecast by $36.9 million (6.7%). We have also delivered a higher-thanforecast full-year cash dividend for our shareholders, resulting in a 21.8% total shareholder return 2 to 30 June 2014 . 2014 highlights FRONT COVER Jeremy Takao, Russell School, Porirua, helping to celebrate first power at Meridian’s new Mill Creek wind farm near Wellington in May 2014. Meridian Energy Limited Annual Report for the year ended 30 June 2014 IN THIS REPORT 2 4 8 10 12 18 22 26 Company overview Report from our Chair and Chief Executive Our Board Our executive team Customers Generation Environment Community 30 People 34 Summary of Group performance 40 Directors’ statement 35.3 % Average...
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...2014 ANNUAL REPORT FY14 PERFORMANCE HIGHLIGHTS REVENUE NET PROFIT Revenue up 2% to $578 million with strong growth in Bathrooms & Kitchens (excluding Hot Water) Net profit after tax of $18.6 million impacted by one-off significant items TRADING EBIT DIVIDENDS Trading earnings before interest and tax (EBIT) up 8% on the prior period to $72.3 million Fully franked final dividend of 5.5 cents per share to be paid in October 2014 STRATEGIC REVIEW COMPLETED SUBJECT TO SUCCESSFUL DIVESTMENT with focus on core Bathrooms & Kitchens and Door & Access Systems businesses and divestment of non-core businesses – Dux Hot Water and Brivis Heating & Cooling of Dux and Brivis, capital return options to shareholders will be reviewed $578 million $18.6 million $72.3 million 5.5 cents DWELLING COMPLETIONS rise only 4% on a moving annual total basis year on year to March 2014 CONTENTS Five Year Financial Summary 1 GWA Heating & Cooling 14 Company Profile and Our Mission 2 Board of Directors 16 Chairman’s Review 4 Corporate Governance Statement 18 Managing Director’s Review of Operations 6 Directors’ Report 28 Health and Safety 10 Financial Report 43 GWA Bathrooms & Kitchens 12 Other Statutory Information 90 GWA Door & Access Systems 13 Shareholder Information 91 FIVE YEAR FINANCIAL SUMMARY 2009/10 $’000 2010/11 $’000 2011/12 ...
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...Student Handbook 2012 WELCOME TO WAIKATO Welcome to the University of Waikato. I hope you make the most of your time here and the opportunities that will present themselves during the course of your study. You have come to an excellent university that is ranked top in 10 subjects under the Government’s Performance Based Research Fund. We are also internationally connected; we have research connections and student exchanges with some of the world’s top universities. I urge you to consider taking part in these while you are with us. Here at the University of Waikato, you will be taught by lecturers who are leaders in their fields of research and who win national teaching awards. We are proud of our academic quality and the fact that we turn out sought-after graduates who go on to take up important roles in all parts of the world. You will already have noticed our beautiful campus which is set in 68 hectares of gardens, green space and lakes. At the heart of it all is the new Student Centre, which was completed in 2011. With its accessible areas, Library services and multitude of facilities, it is a place for students to study or just gather together and we are very proud of this building. In 2011 we celebrated 10 years of another important building, the Gallagher Academy of Performing Arts. This world-class facility was the vision of a group of driven Waikato people. It quickly became a focal point in the campus and continues to be an important venue for the performing...
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...Strength. Momentum. Connectivity. 2011 ANNUAL REPORT BUILDING A BANK OF GLOBAL QUALITY WITH A REGIONAL FOCUS WHO WE ARE AND WHERE WE OPERATE OUR PROGRESS ANZ‘s ANZ‘s history of expansion and growth stretches over 175 years. We have a strong franchise in Retail, Commercial and Institutional banking in our home markets of Australia and New Zealand and we have been operating in Asia Pacific for more than 30 years. ANZ ANZ is the only Australian bank with a clearly articulated strategy to take advantage of Australia and New Zealand’s geographic, business and and cultural linkages with Asia, the fastest growing region in the world. Today, ANZ operates in 32 markets globally. We are the third largest bank in Australia, the largest banking group in New Zealand and the Pacifi Pacific, and among the top 50 banks in the world. OUR SUPER REGIONAL STRATEGY We We articulated our super regional strategy in late 2007. The rationale behind our strategy is simple – to deliver shareholders long-term growth and differentiated returns through connectivity with the growth markets of Asia – returns we do not believe to be available through a domestic-only strategy. Our aspiration is for Asia Pacific, Europe & America sourced revenues to drive drive between 25 and 30% of Group earnings by the end of 2017. Connectivity Connectivity is at the heart of ANZ’s strategy by being part of the growth within Asia and supporting the increasing trade, investment ...
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...Building a stronger Qantas Annual Report 2011 4 6 8 10 14 16 22 31 49 110 120 Chairman’s Report CEO’s Report Financial Performance Board of Directors Information on Qantas Review of Operations Corporate Governance Statement Directors’ Report Financial Report Sustainability Report Financial Calendar A STRONG PERFORMANCE IN CHALLENGING CONDITIONS THE QANTAS GROUP IN 2011 In 2010/2011 the Qantas Group reported a strong result in a complex and challenging global operating environment, with increased revenue across all business segments. The result was achieved while overcoming a series of natural disasters and operational disruptions, and despite the underperformance of Qantas’ international business. THE AVIATION INDUSTRY IS CHANGING THE QANTAS GROUP IN 2011 The Qantas Group faces a unique range of challenges and opportunities. We are in a strong position to address the challenges and realise the opportunities – but we must take decisive action, as we have throughout our history. SAFETY IS ALWAYS THE QANTAS GROUP’S FIRST PRIORITY WE INVEST $1.5 BILLION IN AIRCRAFT MAINTENANCE EACH YEAR SAFETY FIRST From our response to the QF32 incident to the risks posed by volcanic ash disruptions, we never compromise on the highest standards of safety. A safety-first culture across the Group ensures that risks are identified and addressed swiftly and decisively. We invest hundreds of millions of dollars in training to ensure that when incidents do occur our people react...
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...2014 ANNUAL REPORT Australia and New Zealand Banking Group Limited ABN 11 005 357 522 This Annual Report (Report) has been prepared for Australia and New Zealand Banking Group Limited (“the Company”) together with its subsidiaries which are variously described as: ”ANZ”, “Group”, “ANZ Group”, “the Bank”, “us”, “we” or “our”. ANZ ANNUAL REPORT 2014 ANZ IS EXECUTING A FOCUSED STRATEGY TO BUILD THE BEST CONNECTED, MOST RESPECTED BANK ACROSS THE ASIA PACIFIC REGION WHO WE ARE AND HOW WE OPERATE ANZ’s history of expansion and growth stretches over 175 years. We have a strong franchise in Retail, Commercial and Institutional banking in our home markets of Australia and New Zealand and we have been operating in Asia Pacific for more than 30 years. Today, ANZ operates in 33 countries globally. We are the third largest bank in Australia, the largest banking group in New Zealand and the Pacific, and among the top 20 banks in the world. ANZ is building the best connected, most respected bank across the Asia Pacific region. The strategy has three key elements – strong domestic markets, profitable Asian growth and an enterprise wide approach to operations and technology. Our strategy is based on the belief that the future of our home markets of Australia and New Zealand are increasingly linked to the fast growing region of Asia through trade, capital and wealth flows. We also believe that people want a bank that understands their specific needs, and increasingly...
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